Linear, an enterprise software company recognized as a direct competitor to Atlassian, announced Tuesday it has successfully closed an $82 million Series C funding round, led by venture capital firm Accel.
Additional investors participating in the funding round were 01A, Sequoia, Seven Seven Six, and Designer Fund. With the completion of this round, Linear’s total funds raised now stand at approximately $134.2 million. The new investment sets the company’s valuation at $1.25 billion.
Headquartered in San Francisco, Linear develops tools tailored to improve workflow efficiency for developers by assisting them in managing software bugs, streamlining feature requests, and leveraging artificial intelligence to enhance coding processes. According to the company, it currently serves over 15,000 customers worldwide, a distinguished group which includes significant industry names such as OpenAI, Scale AI, and Perplexity.
Linear CEO Karri Saarinen noted in recent remarks that the latest injection of capital will primarily support the expansion of the company’s product suite, as well as its efforts to attract larger enterprise customers. Saarinen also highlighted Linear’s impressive financial progress, citing a 280% growth in profits over the past year.
The company presently operates with a global remote workforce of roughly 80 employees.
